Tokenization is becoming one of the few narratives in this round of crypto cycle that can make Wall Street bow and regulators nod. In this wave of RWA frenzy, the tokenized asset management company Superstate, operated by the "DeFi father" and founder of Compound, Robert Leshner, has quietly grown into an important tokenization player with compliance as its foundation, attracting hundreds of millions of dollars to get on board. It has launched three tokenized products, supported by hundreds of millions of dollars, and tokenization is becoming a new growth engine in the global financial market, with the trend of bringing real-world assets on-chain rapidly heating up. From proof of concept to explosive growth reaching hundreds of billions of dollars, RWA has attracted Wall Street giants vying to lay out their plans. In this wave, Superstate, established just over two years ago, has secured a place in the tokenization market. Superstate is another stop for Leshner in the crypto industry. His more well-known identity is Co